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CBSE Sample question paper 2019 for Accountancy: Attempt these questions to practise for board exams

ACCOUNTANCY: CBSE boards and other state board exams are round the corner. With just few days left for the board exams to start, it is time to revise and attempt mock tests.  HT will bring to you sample papers of major subjects for your practice, daily for the next few days. These questions are prepared by experts.

education Updated: Feb 14, 2019 19:29 IST

Hindustan Times, New Delhi
CBSE Sample question paper for Accountancy paper
CBSE Sample question paper for Accountancy paper(Getty Images/iStockphoto)
         

ACCOUNTANCY

Time : 3 Hrs. M.M.: 80

Std.: XII- Com.

(As per new pattern)

_____________________________________________________________________________________

General Instructions:

1.This question paper contains two parts A and B.

2.All parts of a question should be attempted at one place.

_____________________________________________________________________________________

1.Give the average period in months for charging interest on drawings for the same amount withdrawn at the beginning of each quarter.(1)

2.What is Life Membership Fee?(1)

Or

On firm’s dissolution, what entry will be passed when a partner voluntarily gives his personal asset to firm’s creditor as payment?

3.Bharati and Aastha were partners sharing profits in the ratio of 3:2. They admitted Dinkar as a new partner for 1/5th share in the future profits of the firm which he got equally from Bharati and Aastha. Calculate the new profit sharing ratio of Bharati, Aastha and Dinkar.(1)

Or

Ashok paid the realisation expenses of Rs 50,000 out of his private funds, who was to get a remuneration of Rs 45,000 for completing dissolution process and was responsible to bear all the realisation expenses. Pass journal entry.

4.Ananya, Bimal and Chetna are partners dealing in sale of gift items. Ananya without the knowledge of Bimal and Chetna is also running the business of supplying gift items with the help of her husband. She is earning good profits from this business which she did not share with Bimal and Chetna. Was Ananya correct in doing so? Indicate a value which she did not follow.(1)

5.What is meant by Employee Stock Option Plan?(1)

6.A company issued 10,000 equity shares of Rs.10 each at par payable as to: Rs 4 on application; Rs 5 on allotment and rest on call. Application were received for 16,000 shares. Allotment was made on pro-rata. How much amount will be received in cash on allotment?

Or

Why should a new partner contribute towards goodwill on his admission?

7.show how would you deal with the building Fund of N.D.A:

Building Fund as on 31st March,2018 Rs. 5,00,000

8% Building fund investment as on 31st March, 18 Rs. 5,00,000

Donations collected for building during the year2018-19 Rs 2,50,000

Interest received on building fund investments 2018-19 Rs 22,500

Expenditure made on construction of commerce lecture hall Rs 7,50,000 (3)

8.A, B and C were partners in a firm sharing profits and losses in the ratio of 3:2:1. On 1st January 2018, A died due to heart attack so B and C decided to admit D, son of A as a partner in the firm at 1/5th share of profit .On this date, General Reserve appeared in the Balance Sheet at Rs 24,000. It was decided to keep Reserve in the books. New profit sharing ratio of B, C and D was 2:1:1.(3)

9.Star ltd. issued 20,000 shares of Rs 10 each. It received applications for 18,500 shares and allotment was made. It did not make final call of Rs 2 on these shares. Rubina holding 1,500 shares failed to pay share first call of Rs 3 each. Latika failed to pay share first call on 1,000 shares and her shares were forfeited by the company.

Show how the share capital will appear in the balance sheet of the company as at 31st march 2019.(3)

or

Anjali ,Bhanvi and Harsha are partners in a firm. They had omitted interest on capital @ 12% p.a. for five years ended 31st march, 2012. Their fixed capitals on which interest was to be calculated throughout were: AnjaliR3,00,000; BhanviR 2,40,000; HarshaR 2,10,000. Give the necessary adjusting journal entry with working notes.(3)

10.A,B and C are partners sharing profits and losses in the ratio of 3:2:1. Their capitals were Rs 40,000, Rs 30,000 and Rs 20,000 res. According to the p’ship agreement partners are entitled to receive the following:

(a) Interest on capital @ 10%; (b) Salaries @ Rs.250 P.M to each partner; (c) Interest on drawings is to be charged @ 9%, irrespective of the period. Partners’ drawings amount to Rs. 4,000 for A, Rs 3,000 for B and Rs 2,500 for C.

The profit earned by the firm after charging partners’ salaries but before allowing interest on capital and charging interest on drawings amounting Rs 22,000.

Distribute profit among partners.(3)

11. A and B are partners sharing profits and losses in the ratio of 2:1. On 1st Jan, 17 they admit C as a

partner for 1/4th share who pays Rs 4,500 as goodwill privately. On 1st Jan, 18, they take D as a

partner for 3/5th share who brings Rs 4,000 as goodwill, out of which half is withdrawn by the

existing partners.

On 1st Jan, 19, E is admitted as a partner for 1/6 share, who brings Rs 5,000 as goodwill which is

retained in the business. Calculate the new profit sharing ratios on admission of the partners.

Journalise the above transactions in the books of the firm. (4)

Check full question paper (sample) here.

Visit this page for more sample papers for CBSE Boards 2019.

(The questions given here are provided by RK Poddar of Notre Dame Academy, Patna. More such questions from Accountancy and other papers will be uploaded in the coming days. Watch for the education section at HT. Hindustan Times does not take any responsibility for the questions or the answers.)

 

First Published: Feb 09, 2019 14:21 IST